ONDC, Paytm Will Serve As A Catalogue For The World: Vijay Shekhar
India’s commerce complexity has to be resolved and ONDC and Paytm will avail the opportunity, says Vijay Shekhar Sharma
Open network for digital commerce (ONDC) and Paytm will serve as the catalogue for the world, said Vijay Shekhar Sharma, CEO and Founder of One97 Communication which is the parent company of Paytm.
He further asserted that ONDC has contributed around 12 million users to Paytm and he expects to add another 10 million users by 2025.
“E-Commerce duopoly of giant firms will be diluted by ONDC. The era of outspending will be challenged by the era of outstanding. The so-called giant e-commerce is yet to reach even certain parts of tier-1. In such case India’s commerce complexity has to be resolved and ONDC and Paytm will avail the opportunity,” said Sharma.
He further added that the imbalance is the constant of the market and the equation of demand and supply can never be practically the same. People think that excessive sellers will disrupt this equation in the absence of inadequate consumers but it should be considered that the consumers do not arrive at the first place, it is the merchants who drive and allure consumers. Hence, a dramatic amount of merchants will ultimately drive consumers.
The ONDC is a government-backed network that allows any parties involved in e-commerce to onboard services. There are digital payment companies on this platform like Paytm, PhonePe's Pincode, and the hyperlocal e-commerce company Magicpin.
Additionally, Sharma said that Paytm and ONDC will have their standalone reference, and we are committed to delivering the country's goal of “Made in India for the world.”ONDC will provide such an opportunity while representing itself as a part of the global economic corridor. New-age Founders should build for the country and the progress of the people. India has a cohort for every demand it is just waiting to be discovered. Artificial intelligence will build commerce far more cost-effective and founders must leverage it.
“Digital commerce is for only 6 per cent of people in India, we are not looking to serve merely those. We are here to extend our service to the next 75 per cent of people. Expanding the delivery to the last mile or any remotest part of India,” said T Koshy, Managing Director and CEO, ONDC.
